일반산업
Rapid Growth of Chinese Shipbuilding Industry: Implications and Outlook for Korea
2011-04-11LEE, Eun-Chang
목차
요약
Backed by an aggressive government policy, the Chinese shipbuilding industry has grown to pose a threat to Korea.
-Since 1990s, it has achieved dramatic growth driven by the government policy, and surpassed Korea in major index of orderbook, new orders and deliveries.
-The remarkable growth was made possible not just by the powerful initiative on the government level, but by its strong price competitiveness, notably boosted by massive government ship financing after the financial crisis.
However, it is still not likely for China to gain the upper hand in the global market with price competitiveness and government support only.
-It is too early to say that China is now leading the sector, considering that there are a variety of factors coming into play in succeeding in the shipbuilding industry, including price competitiveness, government support, innovative technologies, scale and marketing power.
-Rather, it might be right to say that China is losing its competitive advantage of low price amid rising cost and appreciation of the yuan, and its capacity to address oversupply with government support is expected to only go so far.
The Korean large-scale shipbuilders are likely to continue to enjoy their competitive advantages with advanced technologies and stronger marketing power.
-Scale and technical prowess of large-scale shipbuilders should be more appropriate measures in assessing a country’s shipbuilding sector, and in that sense, Korea is still in a strong position in terms of technologies and sales efforts.
-In addition, it is expected to maintain competitive advantages, with eco-friendly ships, offshore plant, and ice class ships to be a new frontier in the future of shipbuilding industry.
-Small and medium-sized shipbuilders whose existence may be threatened in the competition with Chinese companies are expected to further enhance their competitiveness by means of merger with large shipbuilders or surviving SMEs.
Therefore, HFG needs to seek business opportunities at large-scale shipbuilders.
-Large shipbuilders are more likely to continue their stable operation based on its technical prowess, not wavered by temporary reduction in profitability.
-It is recommended for HFG to resume its marketing efforts toward small and medium-sized companies after they create a sound cooperative network with other SMEs or win differentiated competitiveness.